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Abu Dhabi Property: An Overview of This Large, But Often Overlooked Member of the UAE

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General

Abu Dhabi is by far the largest of the seven emirates, occupying some 87% of the total land area, and it is also the capital of the UAE. Abu Dhabi is both the name of the emirate and its main city - a city of 1.8m (80% of which are expatriates). The emirate is said to be the richest city on earth - and has certainly attracted many Abu Dhabi property buyers, eager to share in the real estate gold rush.

Abu Dhabi city actually lies on an island which is connected to the mainland by a series of bridges. Much of the activity occurs on this island, and many of the most sought-after Abu Dhabi properties can also be found on the island. Other notable Abu Dhabi real estate hotspots are pleasantly located in the city's outer suburbs, in areas such as Mussafah Residential and Khalifa Cities which are on the main land.

Where Dubai has set itself up as the leisure city of the future, Abu Dhabi is positioning itself as the cultural hub of the entire region. Abu Dhabi is the culturally happening place, where institutions such as the National Theatre on Sheikh Rashid Bin Saeed Al Maktoum Street, the Cultural Foundation on the Old Airport Road and Abu Dhabi Classical Music Society can be found. The city's Saadiyat Island is being converted into an upscale cultural district and is where the latest Frank Gehry designed Guggenheim will be located, as well as the Louvre Abu Dhabi; the first time the famous Paris Museum has ever commissioned a sister establishment. Those who appreciate fine cultural pleasures are sure be tempted by the range of opulent, cutting-edge designed apartments in Abu Dhabi; particular those on the culture focused Saadiyat Island.


Weather

The weather in Abu Dhabi is generally hot with very little rain, although there can be an occasional sand storm during the summer months. Abu Dhabi houses are specifically designed cope with the prevailing weather conditions.


The Economy: Benefitting From the Abu Dhabi Property Boom

Abu Dhabi has often been referred to as the richest city in the world due to its enormous oil reserves. Abu Dhabi sits on around a tenth of the world's oil reserves and although the city has a population of around 1.8m, 80% are expats, meaning just 420,000 are citizens.

The average individual worth of those 420,000 citizens is a staggering $17m and have collectively invested worldwide a sum in excess of $1trillion. Many have also invested in the Abu Dhabi property developments sector. The GDP per capita is also extremely high at $63,000 - third only to Luxembourg and Norway.

Holding around 94% of the UAE's total oil and gas reserves, Abu Dhabi is naturally the area's economic powerhouse, contributing over 60% of the total GDP. However, the recent boom in property for sale in Abu Dhabi means that real estate is gradually competing with oil for a share of the emirate's GDP.


Government

The current ruler of Dubai is Sheikh Khalifa bin Zayed Al Nahayan, whose father was the first president of the UAE. Many decisions, particularly those involving the day-to-day running, are made at emirate-level; however, decisions of greater importance and wider significance are made at the federal UAE level.

The ruler of each emirate forms a Supreme Council of Rulers which vote for a president every five years. The President and Council then chose a Prime Minister, who leads a council of ministers (or cabinet).

The UAE is also part of the GCC (Gulf Cooperation Council), which includes Bahrain, Kuwait, Oman, Qatar and Saudi Arabia.